Its high liquidity and investor confidence stem from the robust growth potential of the Cosmos ecosystem. Whether you’re acquiring ATOM, trading it against digital assets, or holding it for long-term potential, ATOM serves as an enticing asset in the crypto landscape. Upcoming technical upgrades, improvements, and innovations within the Cosmos network can influence its price. Introducing new features, scalability enhancements, and security upgrades can attract more users, developers, and investors to the ecosystem, potentially increasing ATOM’s price.
- While this does not mean that BONK will appreciate, a strong community could allow it to happen.
- Just a day later, on Dec. 15, leading crypto exchange Binance announced that they will list Bonk with the “Seed Tag” and open up trading for BONK on Dec. 16 at 8am UTC.
- This strategy strengthens the Cosmos ecosystem, enabling diverse blockchains to interact and facilitating smooth digital asset exchange.
- The coin now ranks among the 100 largest cryptocurrencies by total value, according to CoinMarketCap.
BONK is a multi-utility token used as a medium of exchange between supporters of the Bonk ecosystem in a decentralized manner. It serves as a a secure mode of payment and settlement between participants who interact within the Bonk ecosystem. The live price of BONK is available and updated in real-time on Binance. However, remember that the cryptocurrency market, including Cosmos, is known for its volatility. It’s essential to have a good understanding of market dynamics before buying or selling ATOM for potential profits.
However, other meme coins have been in similar situations and still seen drastic price increases. While this does not mean 5 reasons why we don’t host bitcoin mining that BONK will appreciate, a strong community could allow it to happen. It is a risky investment, so it is important to take into consideration your risk tolerance and financial goals before making an investment decision. First, you can use a decentralized exchange (DEX) to convert the tokens.
Bonk (BONK) Coins Tokenomics
Just a day later, on Dec. 15, leading crypto exchange Binance announced that they will list Bonk with the “Seed Tag” and open up trading for BONK on Dec. 16 at 8am UTC. BONK was airdropped randomly to Solana NFT collectors, developers, and artists, other airdrop details remain unknown. Currently, the project has a small digital footprint on the Internet, except for an active twitter account. Bonk is governed by a decentralized autonomous organization (DAO) known as the BONK DAO, which manages and votes on how the cryptocurrency will be run.
Home of Crypto Gems
Solana’s NFT collectors, developers, and artists were the main recipients of the random BONK airdrops, though further airdrop specifics are hitherto undisclosed. Presently, the project maintains a minimal digital presence except for its active X (formerly Twitter) profile. As of January 2023, BONK can be traded on platforms like Huobi, MEXC, Bybit, Bitget. It’s also available on Gate.io, Poloniex, Orca, LBank, BKEX, CoinEx, BitMart, Bitrue, DigiFinex, XT.COM, BingX.
How Many Bonk (BONK) Coins Are There in Circulation?
A DEX is a peer-to-peer transaction network that allows users to convert tokens for a small fee. Burning is a popular way to help induce deflation in cryptocurrency, and it helps maintain traders’ confidence that the market will not be oversaturated with coins. The second-largest crypto, Ethereum, made a similar move in 2021, when it began burning transaction fees on its network. Calling itself “the dog coin of the people,” Bonk coin is a dog-themed cryptocurrency based on the cryptocurrency Solana.
However, a one-pager and bonk-paper are available online outlining token distribution, integration information, and blockchain explorer links. Given the increasing popularity of Bonk coin, more exchanges may be adding the coin to their list of tradable cryptocurrencies. Fund your Keplr wallet by buying ATOM on KuCoin or other supported platforms and transferring your tokens. Take advantage of KuCoin’s Crypto Lending section to lend your ATOM holdings and generate passive income. Choose the a beginners’ guide to bitcoin amount of ATOM you wish to lend and select a lending tenure (7 days, 14 days, or 28 days).
Bonk has a maximum supply of 93 trillion coins, and more than 68 trillion have already been created, according to CoinMarketCap. A massive portion of its initial supply was distributed for free to the Solana community, helping generate support and enthusiasm for the project. Solana’s native token, SOL, is used for payments, governance and staking. Bonk’s founders believe that these alternative uses limit SOL’s ability to serve as a transactional token. They see Bonk as a solution to fill in the need for a pure transactional token on the Solana chain.
The Bonk cryptocurrency (symbol BONK) is based on Solana, one of the most popular coins, and so it’s integrated with the larger Solana ecosystem. The coin’s ultra-low price — miniscule fractions of a cent — means that even pocket change can buy you tens of thousands of coins. Monitoring cryptocurrency prices is important for informed buying decisions. The how to buy ufo gaming coin chart offers insights into the movements of major cryptocurrencies like Bitcoin, Ethereum, Solana, and Dogecoin to aid investment strategies.
It offers security without the need for a physical device and is free, unlike many hardware wallets that require a purchase. The IBC protocol is a pioneering feature of Cosmos, potentially transforming the platform into a highly scalable ecosystem. This protocol facilitates seamless data and token exchange across multiple blockchains within the Cosmos network. As a result, Cosmos is well-positioned to support real-world applications and drive mainstream adoption of its technology, thereby expanding its impact on various industries. In 2023, Bonk wants to lead the charge in taking the network control back to the hands of users. For that reason, it has “many planned integrations,” a seemingly standard promise of many meme coins.
